Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Broadcom Inc. $AVGO

Key Points

• Mitsubishi UFJ Asset Management increased its Broadcom stake by 4.7% in the fourth quarter, buying 463,370 additional shares and bringing its holding to 10.26 million shares valued at about $3.57 billion.
• Institutional interest remains strong overall, with 76.43% of Broadcom shares owned by institutions, even as several funds made smaller adjustments to their positions.
• Wall Street remains broadly bullish on AVGO: recent analyst actions included multiple Buy ratings and higher price targets, while Broadcom also posted solid quarterly results with revenue up 29.5% year over year and EPS slightly ahead of estimates.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,259,220 shares of the semiconductor manufacturer's stock after purchasing an additional 463,370 shares during the quarter. Broadcom comprises approximately 2.4% of Mitsubishi UFJ Asset Management Co. Ltd.'s investment portfolio, making the stock its 6th biggest position. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Broadcom worth $3,566,310,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Destiny Wealth Partners LLC lifted its stake in shares of Broadcom by 0.9% during the 4th quarter. Destiny Wealth Partners LLC now owns 35,290 shares of the semiconductor manufacturer's stock worth $11,464,000 after buying an additional 324 shares during the last quarter. AssuredPartners Investment Advisors LLC grew its stake in Broadcom by 9.9% in the 4th quarter. AssuredPartners Investment Advisors LLC now owns 19,298 shares of the semiconductor manufacturer's stock valued at $6,679,000 after buying an additional 1,744 shares during the last quarter. Pilgrim Partners Asia Pte Ltd grew its stake in Broadcom by 25.0% in the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 250 shares of the semiconductor manufacturer's stock valued at $87,000 after buying an additional 50 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Broadcom by 16.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 70,740 shares of the semiconductor manufacturer's stock valued at $24,483,000 after acquiring an additional 10,014 shares during the period. Finally, Garner Asset Management Corp lifted its position in Broadcom by 4.1% during the fourth quarter. Garner Asset Management Corp now owns 15,386 shares of the semiconductor manufacturer's stock worth $5,325,000 after acquiring an additional 609 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AVGO. Citigroup restated a "buy" rating and set a $500.00 price objective (up from $475.00) on shares of Broadcom in a report on Tuesday. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Tuesday, April 7th. Bank of America decreased their price objective on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. DA Davidson upgraded Broadcom to a "hold" rating in a research report on Friday, February 13th. Finally, Truist Financial boosted their target price on shares of Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $436.13.

Broadcom Stock Down 2.1%

AVGO stock opened at $419.30 on Wednesday. The company has a market cap of $1.99 trillion, a PE ratio of 81.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 52 week low of $221.60 and a 52 week high of $437.68. The business has a 50-day simple moving average of $358.98 and a 200 day simple moving average of $353.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period last year, the firm earned $1.60 EPS. The business's quarterly revenue was up 29.5% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is currently 50.78%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
• Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
• Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
• Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the sale, the chief financial officer owned 327,760 shares of the company's stock, valued at approximately $105,407,616. This represents a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by company insiders.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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